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any purchase 2 properties? Mortgage/loan question
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NewlyMrs
Laugh-Live-Love LIFE!
Member since 10/06 14432 total posts
Name:
Jennifer
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any purchase 2 properties? Mortgage/loan question
We are interested in purchasing a piece of land next to our property. So I am assuming it will become 1 large property.
My question is will be need to get a new loan for the additional property or can it be combined into 1?
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Posted 1/8/10 1:19 PM  |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: any purchase 2 properties? Mortgage/loan question
If you have enough equity in your house you can do a cash out refi and buy the land
Or you would need to get a loan for the land- which is not that easy
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| Posted 1/8/10 2:17 PM |
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NewlyMrs
Laugh-Live-Love LIFE!
Member since 10/06 14432 total posts
Name:
Jennifer
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Re: any purchase 2 properties? Mortgage/loan question
I doubt we have enough equi since we've only been here 1 1/2 years.
I wish my mortgage company would answer questions for me!
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| Posted 1/8/10 7:51 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: any purchase 2 properties? Mortgage/loan question
You can ask any mortgage banker to find out this info for you
You just need to tell them what you want to do and see what your options are
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| Posted 1/9/10 8:46 AM |
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